FY2019 EPS Estimates for Northrop Grumman Co. Boosted by Jefferies Group (NOC)

Northrop Grumman Co. (NYSE:NOC) – Research analysts at Jefferies Group raised their FY2019 earnings per share estimates for Northrop Grumman in a note issued to investors on Wednesday. Jefferies Group analyst S. Kahyaoglu now forecasts that the aerospace company will post earnings per share of $18.70 for the year, up from their prior estimate of $17.25. Jefferies Group currently has a “Buy” rating and a $400.00 price target on the stock. Jefferies Group also issued estimates for Northrop Grumman’s FY2020 earnings at $20.15 EPS.

Northrop Grumman (NYSE:NOC) last issued its quarterly earnings results on Thursday, January 25th. The aerospace company reported $2.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.75 by $0.07. Northrop Grumman had a return on equity of 37.28% and a net margin of 7.81%. The company had revenue of $6.63 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same quarter last year, the company posted $2.96 EPS. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year.

A number of other equities research analysts have also weighed in on the company. Argus upgraded Northrop Grumman to a “buy” rating in a research report on Wednesday, February 7th. Zacks Investment Research lowered Northrop Grumman from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Robert W. Baird restated a “buy” rating and set a $394.00 price objective on shares of Northrop Grumman in a research report on Friday, January 26th. Cowen restated a “hold” rating and set a $310.00 price objective on shares of Northrop Grumman in a research report on Thursday, January 25th. Finally, Royal Bank of Canada set a $389.00 price objective on Northrop Grumman and gave the stock a “buy” rating in a research report on Tuesday, January 23rd. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $326.21.

Shares of Northrop Grumman (NYSE NOC) traded down $0.91 on Friday, hitting $356.00. The stock had a trading volume of 957,890 shares, compared to its average volume of 1,100,000. The company has a market cap of $61,980.00, a price-to-earnings ratio of 27.01, a price-to-earnings-growth ratio of 2.57 and a beta of 0.82. Northrop Grumman has a one year low of $233.20 and a one year high of $358.84. The company has a debt-to-equity ratio of 2.04, a quick ratio of 2.24 and a current ratio of 2.35.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOC. Cubist Systematic Strategies LLC grew its position in shares of Northrop Grumman by 35.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 2,676 shares of the aerospace company’s stock valued at $687,000 after buying an additional 699 shares during the last quarter. Koch Industries Inc. grew its position in shares of Northrop Grumman by 21,654.4% in the 2nd quarter. Koch Industries Inc. now owns 207,972 shares of the aerospace company’s stock valued at $207,000 after buying an additional 207,016 shares during the last quarter. Advisory Services Network LLC grew its position in shares of Northrop Grumman by 147.9% in the 2nd quarter. Advisory Services Network LLC now owns 2,023 shares of the aerospace company’s stock valued at $519,000 after buying an additional 1,207 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Northrop Grumman by 0.8% in the 2nd quarter. Cetera Investment Advisers now owns 1,278 shares of the aerospace company’s stock valued at $328,000 after buying an additional 10 shares during the last quarter. Finally, WFG Advisors LP grew its position in shares of Northrop Grumman by 4.9% in the 2nd quarter. WFG Advisors LP now owns 594 shares of the aerospace company’s stock valued at $152,000 after buying an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

In other Northrop Grumman news, VP Denise M. Peppard sold 2,539 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $335.12, for a total value of $850,869.68. Following the sale, the vice president now owns 38,613 shares in the company, valued at approximately $12,939,988.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.70% of the company’s stock.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 21st. Shareholders of record on Monday, March 5th will be given a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.24%. The ex-dividend date of this dividend is Friday, March 2nd. This is a positive change from Northrop Grumman’s previous quarterly dividend of $1.00. Northrop Grumman’s payout ratio is 30.35%.

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Northrop Grumman Company Profile

Northrop Grumman Corporation is a global security company. The Company provides products, systems and solutions in autonomous systems; cyber; command, control, communications and computers, intelligence, surveillance and reconnaissance (C4ISR); strike, and logistics and modernization. The Company’s segments include Aerospace Systems, Mission Systems and Technology Services.

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